CIC purchases bonds from Wadge Holdings

The China Investment Corporation (CIC), China's sovereign wealth fund, said Friday that it has purchased exchangeable bonds from Wadge Holdings Ltd., which is owned by the key shareholders of Russian company Uralkali, the world's largest potash miner.

The bonds are exchangeable into shares of Uralkali, the statement said, on condition that CIC's share will not be more than 12.5 percent.

In an official statement posted on its website, CIC said that the purchase was made through a wholly owned subsidiary. No details were given regarding the value of the transaction or the name of the subsidiary.